Samsung's Acquisition of LoopPay Could Result in an Apple Pay Competitior

By: Alyson Wyers - Apr 16, 2015
References: streetinsider & techcrunch
Recently acquired by Samsung in February, software company LoopPay could potentially help the multinational brand compete directly with Apple Pay with gadgets in the future (such as a mobile wallet solution) as well as accelerating their mobile e-commerce efforts in general. This is not a stretch, given LoopPay has already marketed its offerings as an alternative to Apple Pay for non-Apple device developers.

Their payment technology is embedded in a standalone protective case (CardCase) or fob. From there you can use the app to input and keep payment information (like credit card numbers), thus enabling the case to wirelessly communicate with tap-to-pay terminals in retail spaces. Most stores will not need updated hardware either, because it mimics magnetic stripe technology.